Chinese High-speed Railway Giant Makes Strong Debut On A-share Market
Fahad Shabbir (@FahadShabbir) Published January 16, 2020 | 03:26 PM
Beijing-Shanghai High Speed Railway Co. Ltd. (BSHSR), the operator of the country's most profitable railway line, showed robust performance on the first day of being listed on China's A-share market at the Shanghai Stock Exchange
SHANGHAI (APP - UrduPoint / Pakistan Point News - 16th Jan, 2020 ) :Beijing-Shanghai High Speed Railway Co. Ltd. (BSHSR), the operator of the country's most profitable railway line, showed robust performance on the first day of being listed on China's A-share market at the Shanghai Stock Exchange.
On Thursday morning, the company saw its share price open at 5.86 Yuan (about 0.85 U.S. Dollars) per share, surging from its issue price of 4.88 yuan per share.
About 6.286 billion stocks have been issued to raise funds of 30.63 billion yuan, accounting for 12.8 percent of the company's total equity, according to its statement filed to the stock exchange.
The BSHSR gained the green light to be listed 23 days after submitting its prospectus, a new record as the fastest approval.
Established in 2007, the high-speed railway giant has made a profit for five consecutive years since 2014, said an official with the China State Railway Group Co. Ltd.
He also noted that the listing of railway operator will deepen the reform of state-owned enterprises, promote the optimization of capital structure and enhance the high-quality development of the railway sector.
With a total length of 1,318 km and linking the capital with the eastern coastal economic hub of Shanghai, the Beijing-Shanghai high-speed railway has carried 1.1 billion passengers since starting operation in June 2011.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
LCCI language courses from May 1
Governor for service oriented governance in Punjab
Survivors tell of panic at C.Africa river boat disaster
Enrolment campaign, awareness walk held in Lower Chitral
“Say no to plastic- yes to tress” campaign kicks off in Attock
'PML-N secures people's trust in by-polls'
Girl dies as pole falls in street
More Stories From World
-
Taiwan hit by dozens of strong aftershocks from deadly quake
2 minutes ago -
Trump faces contempt hearing for comments on witnesses
11 minutes ago -
Malaysia military helicopters crash, killing 10
12 minutes ago -
China issues highest-level rainstorm warning in southern Guangdong: weather agency
12 minutes ago -
Asia hit hardest by climate, weather disasters in 2023:UN
12 minutes ago -
Murray buzzer-beater lifts Nuggets over Lakers, Knicks stun Sixers
12 minutes ago
-
Musk lashes Australian order demanding X remove stabbing videos
12 minutes ago -
In world first, Venice to trial day tickets
13 minutes ago -
Highest-level rainstorm warning issued in south China's Guangdong
13 minutes ago -
Rwandan LGBTQ fashion designer plans comeback after arrest
33 minutes ago -
EU lawmakers to greenlight new spending rules
2 hours ago -
Kim oversees North Korea's first 'nuclear trigger' drills
3 hours ago